The quarterly earnings miss and lower full-year outlook are weighing on investor confidence and there are unlikely to be any positive catalysts in the near-term, the analyst said.

Buckingham reduced the FCF and EPS estimates for 2019 from $944 million to $693 million and from $17.04 to $14.80, respectively, to reflect changes in the topline and margin assumptions and higher assumed shares outstanding.

Price Action

Lear shares were down 2.44% at $126.58 at the time of publication Wednesday.